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Showing 111 - 120 of 203 results for "Australian Tax Office"

Industry urged to understand changes to transfer rules

BEN COLLINS  |  THURSDAY, 14 FEB 2013
... funds had too much flexibility with related party transactions, it should not come as a surprise that the Australian Tax Office would be tightening the rules from July this year. From 1 July this off-market transfers will be banned, but Burgess said ...

Broken 'contribs law' needs fixing: SPAA

BEN COLLINS  |  THURSDAY, 14 FEB 2013
... cases where people in self managed super funds were charged a 93% tax rate on excess contributions by the Australian Tax Office, even though it was an honest mistake. "There is no shortage of evidence to show the system is not working," said Burgess. ...

SMSF popularity belies fickle performance

MARK SMITH  |  MONDAY, 14 JAN 2013
... unprecedented growth of the SMSF sector has eclipsed regular funds in recent years. The latest data from the Australian Tax Office (ATO) shows that there were 35,276 new funds registered last year, up 26% on the previous year, and new Australian Prudential ...

Understand borrowing laws warns ATO

BEN COLLINS  |  THURSDAY, 22 NOV 2012
Be careful when investing in property, the Australian Tax Office warned self managed super fund trustees yesterday. People might be using their DYI super fund to invest in property without actually understanding borrowing laws, said acting commissioner ...

Market anxiety shrouds SMSF appetite for equities

MARK SMITH  |  WEDNESDAY, 14 NOV 2012
... conspired to make investors far more reluctant to invest in risk assets. "When you look at the official Australian Tax Office statistics, the average SMSF holds around 30% in equities. That is down somewhat on the pre-GFC level of 35%," he said. "What ...

AFA: new lost super reforms a cash cow

LINDA HAUSKEN  |  THURSDAY, 1 NOV 2012
... announced that it raised the threshold whereby funds in inactive accounts are required to be transferred to the Australian Tax Office (ATO) from $200 to $2,000 and lowered the period of inactivity needed for the transfer to 12 months from five years. ...

Govt to pay interest on lost Super funds

MARK SMITH  |  TUESDAY, 23 OCT 2012
... government has raised the threshold below which funds in inactive accounts are required to be transferred to the Australian Tax Office (ATO) from $200 to $2,000 and lowered the period of inactivity needed for the transfer to 12 months from five years. ...

Super cap breaches tumble

LINDA HAUSKEN  |  WEDNESDAY, 17 OCT 2012
The Australian Tax Office's (ATO) latest report on cap breaches shows the number of people who exceeded the concessional contribution cap has dropped by 37% in the last 12 months. According to the ATO, in 2010/11 a total of 31,217 exceeded the cap ...

Macquarie launches SMSF tool

LINDA HAUSKEN  |  WEDNESDAY, 10 OCT 2012
... professionals to complete annual tax returns for their clients," she added. Recently released figures from the Australian Tax Office's self-managed super fund statistical report, June 2012, show the number of SMSF funds in Australia has grown by 8% since ...

SMSF contributions up 15%

BEN COLLINS  |  TUESDAY, 9 OCT 2012
... to self managed super funds were up 15% on the previous year, according to the most recent data from the Australian Tax Office (ATO), which releases contributions figures annually, with a one year lag. Australians contributed $24 billion into self managed ...